Amazon laid off 18,000 employees after increasing its employee count in the last three years by 100 percent. Facebook grew the number of employees by 94 percent in that period and laid off 11,000. Google laid off 12,000 after growing its workforce by 57 percent and Microsoft laid off 10,000 after growing 53 percent.
Meanwhile, Apple increased its workforce by just 20 percent in the last three years and has so far laid off zero people.
I think it's obvious it's all about irresponsible hiring and nothing else.